The creators of CardStarter have delivered “StarLaunch”, an initial DEX offering (IDO) launchpad for the Solana (SOL) blockchain, and new Solana based projects are ready to launch.
StarLaunch is an incubator for blockchain projects built atop Solana, which aims to connect them with their community of backers. As the first insured IDO launchpad and incubator for Solana blockchain projects, its stated goal is to connect its “community of backers with trusted and thoroughly vetted Solana blockchain projects”.
What is an IDO?
An initial DEX offering platform, or IDO platform, is one where crypto projects are listed and work as an investor pool. Investors can then invest in projects listed on the launchpad with the IDO model, whereby the crypto coin or token is launched via a decentralised liquidity exchange to fund the projects.
Think of an IDO as a sort of decentralised and permissionless crowdfunding platform, which now opens up a whole new way of fundraising in the cryptosphere.
The StarLaunch model could be compared with that of Polkastarter which has been successful at crowdfunding Polkadot-based projects in a similar way over the past year or so. Check out the StarLaunch Slide Deck to learn more about the project.
StarLaunch promotes these three key aspects:
- Selective listing – employing stringent and formulaic project vetting.
- Insurance fund – offering insurance to protect its community. Your IDO investments are insured for the first three months after staking.
- Propulsion program – offering advisory support for its approved projects.
For comparison, and to see what sets StarLaunch apart, this table will prove insightful:
The $STARS token itself has seen quite an increase, rising from under US$3 to more than US$15 within the past week or so.
How to Participate
Disclaimer: Before you get started with these new projects and tokens, please understand that you may lose all your capital. DeFi projects get rugged all the time and some investors lose everything.
In order to get started with StarLaunch, stake your $STARS tokens to generate $N2H4, which is the token used to participate in the initial IDOs that launch on the platform.
So a typical process for option 1 might look like this:
- Do your own research
- Make your plan
- Complete KYC on starlaunch.com
- Buy SOL (from your exchange or such)
- Send SOL to your Solana Phantom wallet (or such)
- Use Raydium.io to swap SOL into STARS (or such)
- Go to app.starlaunch.com and stake your STARS
- When the IDO launches, you can stake your $N2H4 into the project
There is a more detailed explanation of everything on the Starlaunch blog post.
IDOs Set to Launch Soon
It has been announced that MonkeyBall, a SOL-powered play-to-earn game, has been selected as the launch partner of StarLaunch, courtesy of the game’s large community, investor backing and strong fundamentals, all of which cement it as a top play-to-earn game in the future.
We’ll keep you updated on any other IDOs set to launch on the platform as soon as we find out about them.
Disclaimer: The content and views expressed in the articles are those of the original authors own and are not necessarily the views of Crypto News. We do actively check all our content for accuracy to help protect our readers. This article content and links to external third-parties is included for information and entertainment purposes. It is not financial advice. Please do your own research before participating.